The Governor of the Central Bank of Nigeria, Yemi Cardoso, has announced a reduction in market volatility, attributing it to the foreign exchange reforms undertaken by the apex bank.
Speaking during a press briefing in Washington, USA, following meetings with stakeholders from the World Bank, he said that the bank’s bold and unconventional reforms have boosted foreign exchange supply and increased remittance inflows into the country.
According to him, the bank has curtailed arbitrage and speculative activities, while also eliminating the front-loading of foreign exchange demand.
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